Mumbai: Optical media storage device maker Moser Baer (India) Ltd said on 30 November 2007 its photovoltaic unit would invest about $25 million (approx Rs100 crore) to set up a solar power project in Rajasthan.
The estimated generation capacity of the project is 1-5 mw, the company said in a statement. A preliminary agreement was signed between Moser Baer Photo Voltaic and the Rajasthan government for the project.
Moser Baer said it was also evaluating options to set up large-sized solar farms across countries of the South Asian Association for Regional Co-operation. It plans strategic tie-ups with leading, global solar companies and clean energy funds, it said.
MBPV is looking at implementing capacities upto 500 mw by the year 2010. Shares of Moser Baer were up 3.24% at Rs268 in the Mumbai market.